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CSUN Spring 2006 IS431 Wednesday 630PM Team Chen, Chris and Ed
CSUN Spring 2006 IS431 Wednesday 630PM Team Chen, Chris and Ed part of class CSUN Spring 2006 IS431 Wednesday 630PM. Note: Please do not modify this document if you are not a member of the class group. Thanks. Group assignment Sections =Executive Summary= Betterloans is a business that is doing well. It has no problem staying in business and taking a section of the lending business away from its competitors. However, as business becomes increasing more and more, their turnaround time for each loan processing begins to slow down. In the interest of having speeding up this process and incease to more loans, our consulting group found an idea that could be a big help to the rapid growing business. The company has all their incoming information sent to the specific individual working on the loan. If this information can skip the individual and be sent to a centralized storage and be filted out automatically, then this could be used to develop a strategy. Nalin DeSilva, the IT Director of Betterloans, have tried to speed up the process of each loan by adding more staff. However, more people would be more space is needed for each additional worker. Another idea would to hire only one individual to handle all the incoming faxes and sort them to their specific locations. We feel that a new system development would be the best option to help increase the speed of getting things updated. A new database would the best way to handle all the incoming fax and emails. Addition units of software and hardware would be a good way to efficiently help the flow information. Several candidate solutions was considersed before we decided on one. For hardware, we would need _________. Software needed is a new program to be coded. This candidate solution would cost a total of $_________. The whole project would take _________ months to be created and _______ months for implementation. Because of cost and time, it is in the company's best interest to consider our candidate solution. =Background= The Old System Under the old system, a customer would go on the internet and fill out the application and sent it in to one of the processors, who would look at the aplication. The processor would look at the application and call you if more information is needed. the customer would either mail or fax the information to the processor; where it will have to be manually entered in to the computer. The broker would also go through this long process of getting a loan processed. As you can see, this process is a long and tedious where it took a much longer time and work to it processed before it can be audited for approval. If the audit is not up to par, the application is sent back to processing to get more informtion. When it is sent back to processing, the processing of getting more information is started all over again. As all of you who have taken a loan, you should know how long the process of waiting to hear the approval of the loan is. It can take up to weeks before gettng a reply from the lender of the status of the loan. The reason is not that more information is needed in processing the loan for it to be complete, but the time it takes to get the information to the processor to process the loan. For example a fax could be send at 9:00 AM and it would not be updated til 2:00 PM. This is part due to other things that could be going; other loans being processed, etc. As you can see, there is a 5 hour gap just to be notify that the information is sent in and be checked off. This long gap of time needs to be severly shorten or eliminated altogether. This is where our proposal system comes in and changes all of this. =Project Plan= Business Problem Betterloans has a opportunty to increase their customers by developing a new strategy. The first way is to get more people to get loans from them. Currently now, Betterloans has kept good competitive interest rates with competitors. Being a smaller lending firm, it has done extremely well against giants such as Countrywide Home Loans. However, as the business heads towards the world of tomorrow, so does the speed of getting loans approved and out too. Business Problem Description of the business problem goes here Problem Statement Table Problems, Opportunities, Objectives, and Constraints Matrix Causes and Effects Analysis System Inprovement Objectives Problem or opportunity Causes and Effects System Objective System Constraint Problems, Opportunities, Objectives, and Constraints Matrix Causes and Effects Analysis System Inprovement Objectives Problem or opportunity Causes and Effects System Objective System Constraint Problems, Opportunities, Objectives, and Constraints Matrix Causes and Effects Analysis System Inprovement Objectives Problem or opportunity Causes and Effects System Objective System Constraint Problems, Opportunities, Objectives, and Constraints Matrix Causes and Effects Analysis System Inprovement Objectives Problem or opportunity Causes and Effects System Objective System Constraint Project Scope System Objective Proposal and Justification =System Modeling= DFD for Loan Document Receiver Logical DFD for current system CURRENT SYSTEM System Outline System: Fax System @ Better Loan Entities: -Broker Data Flows Input -Form Processes: 1.0 Receive Form 2.0 Scan Form Data Store: -Loan File -Image File Logical DFD for new system Physical DFD for new system ERD for Loan Document Receiver ERD Relational Data Model Data Dictionary UML Diagrams for Loan Document Receiver Use Case Diagrams Class Diagrams Sequence Diagrams State Charts =Candidate Solutions= Candidate Systems Matrix Candidate Systems Matrix Characteristics Candidate 1 Candidate 2 Candidate 3 =Feasibility Analysis= Insert feasibility analysis paragraph here Feasibility Analysis Matrix Feasibility Criteria Weight Candidate 1 Candidate 2 Candidate 3 Operational Feasibility Technical Feasibility Economic Feasibility Schedule Feasibility Ranking =Cost-Benefit Analysis= =ROI Analysis= Expand this paragraph The return on investment analysis is done to show the profitability of each system on a percentage scale. Total Present Value of Lifetime Costs Total Present Value of Lifetime Benefits Return on Investment Candidate 1 Candidate 2 Candidate 3 =Critical Success Factors= The Loan Document Receiver system must absolutely meet complete the following three requirements in order to be considered: * The system must be fully automated, requiring no manual steps from betterloans.com employees * The system must be available 24/7/365, and handle user error gracefully * The system must correcly record and store the documents received Failure to perform any of these steps would mean the system was a failure and should be replaced, or not implemented. If the system needs human intervention during normal operations, it would not be able to provide instant feedback to the brokers. Also, it would cost more, and indeed, might cost more than the current manual system. =Risk Management= =Proposed Solutions= =Input Output= =Implementation Schedule= =Other Recommendations= Notes Proposed Solution for CheapAx * mod website to have upload fields * store uploaded images to temp file * use web service to trigger file processing * our system retrieve the fiel ** get the file name ** extract loan #, doc # ** update loan file datastore ** Convert file to .jpg ** Store file in image repository Proposed Solution for MegaBucks * Get second fax board to get fax numbers * Modify website to implement dynamic allocation of fax numbers for each document * Mod website to give e-mail address for each loan doc. * Ex. A05600-1@tlpprocess.com * add MySQL (isp provided) for $20 month extra. Build allocation table. * Get 100 numbers for pool * Get domain for e-mails * Build web service for fax retrieval connect * If fax, use web service to website ISP to lookup loan ID and Doc ID from allocation table. * If email, use email address to get loan #, Doc ID * Convert file to .JPG * Store file in image repository, get file name + Path * Store info in loan file: Loan ID, Doc ID, Filename + Path, date/time entered Category: Class Teams